FORTIA, an energy management platform, and ACCIONA Energía, a subsidiary of ACCIONA, have signed a framework agreement for ACCIONA Energía to deliver 1 TWh of renewable energy annually. This corporate renewable power purchase agreement (PPA) is in place for a period of five to ten years, and according to this, FORTIA will supply clean energy to 20 Spanish companies.
Reportedly, the clean energy will be provided from ACCIONA Energía’s power plants in Spain as part of the company’s objective to increase the number of supply contracts and medium- and long-term PPAs for corporate customers. The supply of renewable energy will begin within the next two years, based on the requirements of the electro-intensive companies included in the agreement and part of FORTIA.
Recently, ACCIONA Energía announced its plans to build two wind farms in Croatia. The two wind farms are the 45 MW-capable Boraja II and the 27 MW Opor wind project. Their construction is tied to a 12-year Contract for Difference (CfD) signed with Croatian energy and gas regulator HROTE. The CfD was selected through a competitive bidding process and is a component of a scheme by the Croatian government and HROTE to increase the generation of renewable electricity.
REGlobal’s Views: With volatile energy markets, more and more corporate and industrial consumers are switching to offsite procurement of renewable energy. This offers them not only energy security but also affordable costs. Meanwhile, for developers, corporate clients are an ideal way to diversify their PPA-mix and ensures distribution of risks amongst various consumer classes.